Ensuring Regulatory Compliance with Contracts Intelligence

A Missing Piece in the Compliance Puzzle

In this turbulent economy, executives face an uncertain regulatory environment at a time when their companies can least afford the costly penalties associated with non-compliance.  This environment will only get worse in the coming years. Despite the fact that a significant portion of regulation is centered on revenue-generating agreements, the majority of companies lack the necessary awareness of their contracts to ensure compliance.

Achieve Global Control of Your Contracts

To ensure compliance with regulations, companies put extensive efforts and resources into developing strong compliance standards, yet lack an effective mechanism to verify adherence in their contracting process. Instead, executives often rely on departmental tracking of and reporting on key information to measure compliance. Because this process lacks centralized visibility, executives are unable to confirm the efficacy of their standards leaving them unaware of non-compliance until it is too late.

With Pramata Contracts Intelligence On-Demand, you can verify that your employees are actually following your policies with detailed reporting into recently entered non-standard contractual commitments.

Immediately Identify Impacts of Changing Regulations on Contractual Commitments

To assess the impact of changing regulations, companies must undertake costly and time-consuming audits of their agreements. This process is inefficient and leaves companies exposed to potential inaccuracies. With Pramata Contracts Intelligence On-Demand, your company can immediately mine existing contractual commitments to pinpoint areas at risk of potential non-compliance.

Optimize Internal Controls Around Future Transactions

Identify patterns in your contracting practices to refine internal controls and contracting policies based on an understanding of past patterns of risk and weaknesses in contracting processes.